Davaadagva

Davaadagva is 59 years old and lives with his wife in a small house in the Orhon province of Mongolia. His wife, Oyungerel, is 59 years old and retired. His adult children are married and live separately. Davaadagva has been running a taxi business in town since 2000. His car has broken down several times recently and he needs a replacement to run his business. He is now planning to replace his car with a better van. He is requesting a loan of 1700000 MNT to pay for the van which he will use to provide public transportation in town. He is a hardworking, experienced driver.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.